Robin V. Wish - Real Living Suburban Lifestyle Real Estate



Posted by Robin V. Wish on 1/20/2020

Image by Mohamed Hassan from Pixabay


When it comes to selecting a home, every situation is a little different. Do you purchase a house because of its size or is the location more important? Both factors play a crucial role in determining your choice, but the unique details in your life can help you decide which is more important. 

When realtors talk about a home, they often stress the importance of location. However, if you are newlyweds starting a family and you want to buy a home on a tight budget, you might favor the size of the house over the location. On the other hand, if your purchase is to build your portfolio or to be your forever home, location might matter more than size. When considering size versus location, let the steps below guide you.

Sacrificing Location for Size

While location is important, you may need more space for a home office, a workshop, or a large play area. If that is the case, consider size over location. If home size is your focus, the location doesnít need to be trendy. Choose size over location for these reasons:

  • You Have Children: If you have children, itís preferable to search for a bigger home. Looking for a larger house in many cities might mean you move to areas where you can get better value for your money. While these areas might not be your dream neighborhood, or ideal for your work commute, they may be a great place to begin a family. 

  • You Have A Large Household: If you have a large family or have multiple adults in the same household, you may be looking for additional space for everyone. A bigger house means you could add play space for your kids, a lawn for your pet, office space, more bathrooms, and outdoor space. 

  • You Need More Space for Guests: If you often have people coming to stay with you; your in-laws, friends, or family members ó then having more space or guest room will improve your quality of life. Finding a larger home that meets your housing needs is important, and if having room for guests fills you with joy, then size is important.

Choosing Location over Size

  • You Plan to Rent Out Your House: If you are buying your home intending to rent it out either on a long-term lease or as a holiday rental, your choice of location plays a vital role. Proximity to points of interest and public transportation determine your rentalís demand and supply, and it will have a significant effect on your profit. 

  • You Have Kids That Are Still in School: If you have school-age children, you would want to consider the type of schools available in the area. If there is a specific standard of education you want for your children, ensure you inform your realtor about this before the house hunt process begins. 

  • You Plan to Sell Your House in the Near Future: If you intend selling your home sooner rather than later, you need to be strategic when picking your neighborhood. Location is the crucial factor that affects your resale value ó if you are buying a house intending to sell in an abbreviated time, itís essential you pick an area that will increase your homeís value in the short run. 

Both the location of your home and its size are vital things to look for when house hunting, but your decision on which is more important should be a factor of what you need now. Talk to your realtor about your motivation for buying a home and get their professional advice on what fits your needs the most.





Posted by Robin V. Wish on 7/29/2019

You hear about this magic "cost-of-living index" number, but where does it come from and how can you use it to improve your real estate experience? The cost of living index is a numerical measurement of the relative cost to live in a specific geographic region. There are a lot of economic formulas out there, but it basically adds up and compares the cost of goods and services that are part of ordinary living expenses. These include clothing, utilities, health care, transportation, groceries, restaurants, building materials and more. The index is relative and not an exact measurement, so you always want to compare with the actual cost of living you're familiar with to get an idea of the comparative costs where you want to move.

Whatís the Math?

To begin, researchers collect a representative sample of goods and services and then compare prices. To determine what goods and services to include in the formula, they use a "typical family budget." When comparing the cost of living, remember that your budget may not be "typical." While they may sound similar, the cost of living index and the consumer price index aren't the same thing.

The Bureau of Labor Statistics sets the consumer price indexóand the US government uses it to measure inflation in day-to-day-purchases, changes in interest rates and taxes. To make the CPI and Cost of living index more easily relatable, the CPI now measures housing costs using "owners' equivalent rent" instead of mortgage payments which allows them to remove the investment part of homeownership from the cost of living index and make it more equivalent for renters and owners.

Different companies use different market values and various products and services to make their calculations. One example, the Council for Economic Research, actually divides goods and services into six different categories, then chooses 60 items to represent the whole, gets the prices all at once and uses that to compare costs between locations. 

Other sources take a variety of goods and service cost comparisons and combine them for a broader cost comparison between locations.

The US Department of State provides links to a lot of this information along with some great tools like the "Cost of Living and Salary Comparison Wizard." It combines information on goods, services, real estate, and average salaries to create a short 3-step process: enter your current base salary, the nearest metropolitan area to where you live and work, and the most adjacent metro area to where you want to move. The wizard will spit out not only cost of living comparisons, but what you can or should expect your salary difference to be, and whether that salary will actually be workable in the new area.

How do I Use it?

For example, if you have an annual salary of $50,000 in Dallas, Texas and you move to San Diego, California in a similar position, you can expect a 5.8% salary increase, which brings you to about $53,000. That $3,000 seems like a lot, but now you must look at the cost of living difference between the two areas. According to all these calculators, the average cost of living increase between Dallas and San Diego is roughly 36%. That calculates out to $15,000 less in disposable income. So now you can compare, do you really HAVE $15,000 you can give up in order to move to San Diego? If not, it might just be time to start looking elsewhere or trying to find a San Diego job with a salary of at least $68,000 to maintain the same lifestyle.

What If I Have no Choice?

Sometimes you don't have a choice about moving. Maybe you're being transferred by your company, or you need to be near a school, university or family. If you are stuck moving anyway, use the cost-of-living numbers to help you plan for your new budget and negotiate for a better salary.

Your real estate professional is familiar with the cost of living index for the area, and they will be able to help you find the right place for your budget.




Categories: Uncategorized  


Posted by Robin V. Wish on 9/18/2017

A first-time homebuyer may believe that he or she can submit a "lowball" offer on a residence, even if a house has been available for many weeks or months. However, the risks associated with submitting a subpar proposal are significant, particularly for a homebuyer who wants to purchase a top-notch residence as soon as possible.

Ultimately, a lowball offer may result in an instant "No" from a home seller. Perhaps even worse, the proposal could sour potential negotiations between a homebuyer and home seller and cause a property buyer to miss out on an opportunity to acquire his or her dream residence.

When it comes to buying a house for the first time, there is no need to risk submitting a lowball offer.

Now, let's take a look at three tips to help a first-time homebuyer avoid the temptation to make a lowball proposal.

1. Evaluate a Wide Range of Houses

An informed first-time homebuyer may be better equipped than others to provide a competitive offer to purchase his or her ideal residence.

For example, a homebuyer who assesses a broad range of houses in a particular area can determine a price range for similar residences. Then, if this homebuyer would like to submit an offer on a house, he or she can use housing market data to submit a fair proposal without delay.

With housing market data, a homebuyer can determine whether he or she is operating in a buyer's or seller's market too. That way, this homebuyer can leverage housing market insights to quickly and effortlessly put together a competitive offer on any residence, at any time.

2. Understand Your Finances

Getting pre-approved for a mortgage usually is a great idea for a first-time homebuyer. With a mortgage in hand, this homebuyer will be able map out a homebuying journey based on his or her finances.

To receive pre-approval for a mortgage, a homebuyer will should meet with several banks and credit unions. These lenders can offer details about a variety of mortgage options and help a homebuyer make an informed mortgage decision.

After a homebuyer is pre-approved for a mortgage, he or she can submit an offer on a house and understand exactly how much money is available for a home purchase. As a result, this homebuyer can put his or her best foot forward with an initial offer, thereby reducing the risk of submitting a lowball proposal.

3. Collaborate with a Real Estate Agent

The homebuying journey can be long and complicated, especially for those who are pursuing a house for the first time. Fortunately, a first-time homebuyer can collaborate with a real estate agent to obtain deep housing market insights.

A real estate agent is happy to provide honest, unbiased home offer recommendations. By doing so, this housing market professional can help a first-time homebuyer submit the best offer on a residence Ė without exception.

Ready to purchase a home for the first time? Use the aforementioned tips, and a first-time homebuyer can avoid the danger of submitting a lowball offer on a residence.




Categories: Uncategorized  


Posted by Robin V. Wish on 8/21/2017

Buying a house can be a stressful process, especially when youíve found your dream home and have put in your bid. While itís easy to spend all of your spare time worrying endlessly if your bid will be accepted it wonít get you any closer to hearing that ďyesĒ. Here are five things you can do instead of worrying and will help relieve stress instead. Read a book - Immerse yourself in another world by picking up a book. Spend some time browsing the shelves of your local library or bookstore for something that catches your eye. If you arenít normally a reader choose a genre similar to your movie tastes or ask a librarian for a recommendation. Meditate - Iím sure youíve heard it a million times before. Every time the topic of lowering stress come up you are sure to have meditation suggested as a combative tool. But itís so widely recommended for good reason! Science has proven that meditation really does lower stress levels. With its popularity comes a plethora of options for you to experiment with. You can try in-person classes, apps, or CDs. There are even many different ways to meditate so find what works for you and keep practicing. Exercise - Exercise may not be everyoneís favorite past time but it is an excellent way to lower stress. Donít worry this doesnít mean you need a gym membership or to spend hours lugging weights around. Walking, dancing and even vigorously cleaning can all count as exercise if they raise your heart rate. You can even think of it as prep for move in day. Spend time with friends - Gather a group of friends together to catch up over brunch or go out on the town for the night. Either way, you will have a blast spending time with those you care about and lowering your stress levels. Social engagement is an important facet of human life and when you gather a group of friends there is almost a guarantee for some laughter. And yes, laughing really does help you reduce stress! Get outside - Spending time in nature is a guaranteed way to destress with endless possibilities. You can go for a hike, ride a bike, spend time on a boat, at the beach or in your own backyard. You also have the added benefit of the ability to combine this tip with any of those given above. Lay out a blanket to sit on to read or meditate, gather a group of friends for a game of kickball, or go for a run as a group or by yourself. Waiting to hear if your bid on your dream home has been accepted can be a stressful time, but it doesnít have to be. By spending your time engaging in activities that help lower your stress levels you will not only keep yourself from worrying but also do yourself some good too. Whether you choose to snuggle up with a good book or go out on the town with some friends youíll be glad you gave yourself some downtime before move in day!







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